MOL May Receive 133 Billion Forints Back, the Money May Arrive This Year
5 Articles
5 Articles
MOL is demanding a refund of approximately 133 billion forints in previously paid taxes and interest from the Hungarian state, according to the oil company's stock exchange announcement published on Monday evening. Due to the changed legal environment, the company is no longer pursuing its claim through the courts, but directly with the tax authorities. The company expects the amount to arrive this year.
The Hungarian oil company will receive more than 100 billion forints back from the Hungarian state from the retroactively abolished carbon dioxide quota tax.
Oil company seeks return of illegally imposed carbon tax with interest
Hungarian fuel and energy company MOL wants to recover hundreds of millions of dollars in CO2 tax payments. The company has filed a claim for a refund of approximately HUF 133 billion plus interest, or USD 405 million. This is based on a judgment by the European Court of Justice challenging Hungarian regulations. The company expects to receive the money by 2026.
The oil company and its affected subsidiaries are demanding a total of approximately 133 billion forints in previously paid carbon tax, including interest, from the state. MOL also announced that it will withdraw from the court cases it has already initiated in this matter.
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